Elme Communities (NYSE:ELME) Stock Position Reduced by Vanguard Group Inc.

Vanguard Group Inc. decreased its position in Elme Communities (NYSE:ELME - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,758,979 shares of the company's stock after selling 205,828 shares during the period. Vanguard Group Inc. owned approximately 15.63% of Elme Communities worth $210,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ELME. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Elme Communities during the third quarter worth approximately $86,000. Metis Global Partners LLC bought a new stake in Elme Communities during the 4th quarter valued at $154,000. Meridian Wealth Management LLC acquired a new position in Elme Communities during the 4th quarter worth $171,000. Proficio Capital Partners LLC bought a new position in shares of Elme Communities in the fourth quarter worth $180,000. Finally, M&T Bank Corp increased its holdings in shares of Elme Communities by 10.1% during the fourth quarter. M&T Bank Corp now owns 12,691 shares of the company's stock valued at $194,000 after purchasing an additional 1,166 shares during the period. Institutional investors own 87.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Elme Communities from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered shares of Elme Communities from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, December 17th. Finally, Truist Financial upgraded shares of Elme Communities from a "hold" rating to a "buy" rating in a research note on Friday, January 17th.

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Elme Communities Price Performance

Elme Communities stock traded down $0.34 during mid-day trading on Thursday, hitting $14.91. The company's stock had a trading volume of 498,678 shares, compared to its average volume of 588,536. The stock has a market capitalization of $1.31 billion, a P/E ratio of -106.47 and a beta of 0.84. Elme Communities has a twelve month low of $13.95 and a twelve month high of $18.49. The stock's fifty day moving average price is $16.63 and its two-hundred day moving average price is $16.31. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 0.65.

Elme Communities (NYSE:ELME - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.26. Elme Communities had a negative return on equity of 1.18% and a negative net margin of 5.42%. Research analysts forecast that Elme Communities will post 0.94 earnings per share for the current year.

Elme Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, March 19th were issued a dividend of $0.18 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.83%. Elme Communities's dividend payout ratio is -514.29%.

Elme Communities Profile

Elme Communities is committed to elevating what home can be for middle-income renters by providing a higher level of quality, service, and experience. The Company is a multifamily real estate investment trust that owns and operates approximately 9,400 apartment homes in the Washington, DC metro and the Atlanta metro regions, and owns approximately 300,000 square feet of commercial space.